v2.4.0.8
Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2014
Accounting Policies [Abstract]  
Calculation of Funds' Final Net Asset Value for Creation and Redemption of Fund Shares

The times of the calculation of the Leveraged Funds’, the Short Euro Fund’s, the Geared VIX Funds’ and the Matching VIX Funds’ final net asset value for creation and redemption of fund Shares for the three months ended March 31, 2014 were as follows. All times are Eastern Standard Time:

 

   

NAV Calculation Time

   

NAV Calculation Date
UltraShort Silver, Ultra Silver   7:00 A.M.    March 31
UltraShort Gold, Ultra Gold   10:00 A.M.    March 31
UltraShort DJ-UBS Crude Oil, Ultra DJ-UBS Crude Oil   2:30 P.M.    March 31
UltraShort DJ-UBS Natural Gas, Ultra DJ-UBS Natural Gas   2:30 P.M.    March 31
UltraShort DJ-UBS Commodity, Ultra DJ-UBS Commodity   3:00 P.M.    March 31
UltraShort Australian Dollar, Ultra Australian Dollar   4:00 P.M.    March 31
Short Euro, UltraShort Euro, Ultra Euro   4:00 P.M.    March 31
UltraShort Yen, Ultra Yen   4:00 P.M.    March 31
VIX Short-Term Futures ETF, Ultra VIX Short-Term Futures ETF, Short VIX Short-Term Futures ETF   4:15 P.M.    March 31
VIX Mid-Term Futures ETF   4:15 P.M.    March 31

 
Valuation of Investments

The following table summarizes the valuation of investments at March 31, 2014 using the fair value hierarchy:

 

     Level I - Quoted Prices     Level II - Other Significant Observable Inputs        
     Short-Term U.S.
Government and
Agencies		      Futures
Contracts*		     Forward
Agreements		     Foreign
Currency
Forward
Contracts		     Swap
Agreements		     Total  

UltraShort DJ-UBS Commodity

    $ 2,486,733      $  —        $  —        $  —        $ 102,269     $ 2,589,002  

UltraShort DJ-UBS Crude Oil

      288,258,596        (6,264,314 )     —          —          (692,931 )     281,301,351  

UltraShort DJ-UBS Natural Gas

      56,753,250        4,479,320       —          —          —          61,232,570  

UltraShort Gold

      105,840,656        16,860       8,531,762       —          —          114,389,278  

UltraShort Silver

      67,188,850        5,330       7,742,580       —          —          74,936,760  

Short Euro

      6,227,257        47,900       —          —          —          6,275,157  

UltraShort Australian Dollar

      19,227,467        (1,221,879 )     —          —          —          18,005,588  

UltraShort Euro

      414,310,854        —          —          (3,724,310 )     —          410,586,544  

UltraShort Yen

      400,736,540        —          —          4,846,384       —          405,582,924  

Ultra DJ-UBS Commodity

      2,410,896        —          —          —          (114,128 )     2,296,768  

Ultra DJ-UBS Crude Oil

      112,053,990        2,109,314       —          —          959,951       115,123,255  

Ultra DJ-UBS Natural Gas

      18,277,978        (1,851,411 )     —          —          —          16,426,567  

Ultra Gold

      148,339,252        (16,860 )     (12,010,072 )     —          —          136,312,320  

Ultra Silver

      530,701,182        (5,330 )     (58,138,361 )     —          —          472,557,491  

Ultra Australian Dollar

      2,775,892        192,985       —          —          —          2,968,877  

Ultra Euro

      2,307,737        —          —          20,984       —          2,328,721  

Ultra Yen

      2,471,851        —          —          (41,229 )     —          2,430,622  

VIX Short-Term Futures ETF

      94,150,810        (5,026,965 )     —          —          —          89,123,845  

VIX Mid-Term Futures ETF

      48,695,771        (2,007,210 )     —          —          —          46,688,561  

Ultra VIX Short-Term Futures ETF

      173,853,508        (29,701,827 )     —          —          —          144,151,681  

Short VIX Short-Term Futures ETF

      169,490,113        8,083,199       —          —          —          177,573,312  
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Trust

    $ 2,666,559,183      $ (31,160,888 )   $ (53,874,091 )   $ 1,101,829     $ 255,161     $ 2,582,881,194  

 

* Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedules of Investments. Only current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures.

 

The following table summarizes the valuation of investments at December 31, 2013 using the fair value hierarchy:

 

     Level I - Quoted Prices     Level II - Other Significant Observable Inputs        
     Short-Term U.S.
Government and
Agencies		      Futures
Contracts*		     Forward
Agreements		     Foreign
Currency
Forward
Contracts		     Swap
Agreements		     Total  

UltraShort DJ-UBS Commodity

    $ 3,453,890      $  —        $  —        $  —        $ (27,665 )   $ 3,426,225  

UltraShort DJ-UBS Crude Oil

      247,584,623        (1,232,773 )     —          —          (2,332,900 )     244,018,950  

UltraShort DJ-UBS Natural Gas

      18,274,713        1,042,300       —          —          —          19,317,013  

UltraShort Gold

      148,988,329        14,520       5,633,053       —          —          154,635,902  

UltraShort Silver

      114,826,066        14,200       (2,227,857 )     —          —          112,612,409  

Short Euro

      7,902,056        (33,231 )     —          —          —          7,868,825  

UltraShort Australian Dollar

      24,198,507        917,605       —          —          —          25,116,112  

UltraShort Euro

      437,847,159        —          —          (13,748,507 )     —          424,098,652  

UltraShort Yen

      558,597,264        —          —          29,386,684       —          587,983,948  

Ultra DJ-UBS Commodity

      2,816,688        —          —          —          15,078       2,831,766  

Ultra DJ-UBS Crude Oil

      137,435,610        626,661       —          —          1,957,893       140,020,164  

Ultra DJ-UBS Natural Gas

      58,921,011        (3,656,539 )     —          —          —          55,264,472  

Ultra Gold

      140,880,950        (14,560 )     (6,812,974 )     —          —          134,053,416  

Ultra Silver

      467,868,976        (14,200 )     (2,492,880 )     —          —          465,361,896  

Ultra Australian Dollar

      2,716,439        (118,220 )     —          —          —          2,598,219  

Ultra Euro

      2,455,863        —          —          100,962       —          2,556,825  

Ultra Yen

      2,928,556        —          —          (159,309 )     —          2,769,247  

VIX Short-Term Futures ETF

      207,636,383        (16,652,686 )     —          —          —          190,983,697  

VIX Mid-Term Futures ETF

      46,040,233        (4,896,689 )     —          —          —          41,143,544  

Ultra VIX Short-Term Futures ETF

      109,533,487        (24,009,911 )     —          —          —          85,523,576  

Short VIX Short-Term Futures ETF

      105,559,022        8,116,955       —          —          —          113,675,977  
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Trust

    $ 2,846,465,825      $ (39,896,568 )   $ (5,900,658 )   $ 15,579,830     $ (387,594 )   $ 2,815,860,835  

 

* Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedules of Investments as presented in the Form 10-K for the year ended December 31, 2013. Only current day’s variation margin is reported within the Statements of Financial Condition as presented in the Form 10-K for the year ended December 31, 2013 in receivable/payable on open futures.